CBCR

EU Finance Ministers have dropped five of the world’s worst tax havens from the EU 'black' and 'grey' list of tax havens published today.

Following the Paradise Papers revelations, the European Parliament decided today to establish a new special committee on tax fraud, tax evasion, money laundering, tax avoidance and aggressive tax planning. 

A Luxembourg court today overturned the previous guilty verdict imposed on whistleblower Antoine Deltour, who exposed secret deals that enabled multinational companies to avoid paying billions of dollars in tax. Welcoming the decision, Oxfam said whistleblowers are not criminals and governments should do more to implement tax transparency.

RB, the multinational company behind global household brands such as Dettol and Vanish, has today backed a public campaign for tougher tax laws after an Oxfam investigation suggested that poor countries are losing valuable revenue needed to tackle poverty due to its tax practices. 

Europe’s 20 biggest banks are registering over a quarter of their profits in tax havens – well out of proportion to the level of real economic activity that occurs there, according to a new report by Oxfam and the Fair Finance Guide International today.